Leadership Live Session #3

Introduction & Format

Dr. Elora Voyles is an Industrial-Organizational Psychologist and People Scientist with TINYpulse.

5 Key Questions Answered

Open Q & A

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What is a stay interview? And what about Exit Interviews?

Proactively gathering information about factors in employees’ decision to stay with the organization (as well as irritants that make employees tempted to leave).

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Exit interviews are conducted when employees are leaving the organization. Employees may be more forthcoming upon exit.

The difference between stay interviews and exit interview is that it’s too late to make changes for employees who are already making their exit.

VS.

Stay Exit

Why conduct stay interviews?

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Gather actionable information to address employee concerns and improve employee retention.

Offer employees an opportunity to disclose concerns.

Communicate to employees that their opinions and happiness matter

More important than everWe are experiencing the “great resignation” and hiring qualified talent has become more challenging.

Research from Microsoft suggest that over 41% of the global workforce is considering quitting in 2021.

Stay interviews are another tool that you can use to retain top talent.

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How often and who?Conduct stay interview 1-2 times a year.

For new hires, conduct a stay interview within the first 3 months

If possible, managers (with training) should conduct these meetings

HR can provide an outline of questions along with training for managers

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Setting the Stage Allow 30 minutes when scheduling the stay interview.

Frame the interview as a time to check in

Start the conversation as: “I’d like to have an informal discussion to better understand how you feel about this job. As your manager, I want to focus on how I can support you and your success at (company name).”

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Top 5 Recommended Questions ● What do you like the most about working here?● What do you like least about working here?● What would you like to learn here?● What motivates (or demotivates) you?● What can I do to best support you?

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Quick tips for conducting stay interviews ● Ensure confidentiality during stay interviews ● Clearly communicate purpose of stay interviews● Focus the discussion on understanding the

employees’ needs. ● Express gratitude and appreciation for

employees ● Establish a plan for following up on information

from stay interviews - (Stay Plan)● Understand the context of company culture● Always be on the lookout for stay interview

information

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Systematically track responses in stay interviews

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Select Stay Interview Questions

and Cadence

Keep a record of stay interview

notes Identify Themes

Develop and Implement Action

Plans

Forecast Retention:

Likely to leave within 6 months

May leave in 6 months - 12 months

Likely to stay more than a year

How to manage stay interview data If possible, ensure confidentiality

Track timing and common themes

Include direct quotes

List actionable themes in order of priority

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Taking action What you do after the stay interview is as important as what you do during the stay interview.

Based on list of priorities, draft potential action plans in response to employee feedback.

If you encounter roadblocks, be as transparent as possible with the employee.

Shareback results

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Open Q & AFor the remainder of today’s session, you can enter questions into the chat or you can unmute and ask questions.

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